Key Developments For LKQ Corp
LKQ Corp (LKQX.O) (Nasdaq)
LKQ Corporation Announces Change In CFO-Form 8-K
LKQ Corporation announced in its Form 8-K that On November 3, 2009, Mark T. Spears resigned as Executive Vice President and Chief Financial Officer (CFO) of the Company and John S. Quinn was appointed as Executive Vice President and CFO of the Company.
LKQ Corporation Raises Low End of Prior FY 2009 Earnings Guidance In Line With Analysts' Estimates
LKQ Corporation announced that it has reaffirmed its fiscal 2009 guidance. The Company expects organic revenue growth at a rate of 6% to 8%, net income will be in the range of $120 million to $124 million and diluted earnings per share (EPS) will of $0.83 to $0.86. According to Reuters Estimates, analysts are expecting the Company to report net income of $120 million, EPS of $0.83 for fiscal 2009.
Schnitzer Steel Industries, Inc. Announces To Acquire From LKQ Corporation Assets Of Six Self-Service Used Auto Parts Facilities And To Sell To LKQ Its Full-Service Used Auto Parts Operation
Schnitzer Steel Industries, Inc. announced it has completed a transaction to acquire from LKQ Corporation the assets of six self-service used auto parts facilities and to sell to LKQ its full-service used auto parts operation. In addition, Schnitzer is receiving an undisclosed amount of cash. In addition, Schnitzer is receiving an undisclosed amount of cash. Four of the self-service operations to be acquired are located near the company`s Metals Recycling Business export facility in Portland, OR, with a closing effective October 2, 2009. These four stores will represent the company`s first used auto parts operations in the Pacific Northwest. The additional two facilities, the purchase of which will be effective January 15, 2010, will bring to four the number of self-service stores the company operates in the Dallas-Fort Worth Metroplex. All of the acquired operations will operate under the company`s Pick-n-Pull brand. Greenleaf Auto Recyclers, LLC, the full-service operation sold, operates 17 full-service parts stores in nine states. The sale of Greenleaf is also effective as of October 2, 2009. At the completion of the transactions, Schnitzer`s Auto Parts Group will operate 45 self-service stores in 14 states and Western Canada. Terms of the transactions were not disclosed.
John S. Quinn To Join LKQ Corporation As Chief Financial Officer
LKQ Corporation announced that John S. Quinn will join the company as Executive Vice President and Chief Financial Officer (CFO) in the fourth quarter of 2009.
LKQ Corporation Raises FY 2009 Net Income Guidance; Raises Low End of Prior FY 2009 EPS Guidance In Line With Analysts' Estimates; Reaffirms FY 2009 Revenue Guidance
LKQ Corporation announced that it has revised its fiscal 2009 guidance. The Company expects organic revenue growth at a rate of 6% to 8%, net income will be $116.5 million to $124.0 million and diluted earnings per share (EPS) will $0.81 to $0.86. According to Reuters Estimates, analysts are expecting the Company to report net income of $120 million, EPS of $0.84 on revenue of $2.038 billion for fiscal 2009.
